In a press statement released on Monday by the Head of the Public Affairs Unit, Olaide Shonola, the Commission provided detailed updates on several high-profile divestments, emphasising that all transactions were conducted in strict adherence to the Petroleum Industry Act (PIA) 2021 and other applicable legal frameworks.
The NUPRC highlighted the successful divestments of Nigerian Agip Oil Company (NAOC) to Oando Petroleum and Natural Gas Company Limited (Oando PNGCL) and Equinor Nigeria to Chappal Energies, noting that these approvals were granted only after thorough evaluations.
